Commercial Property Register
June - September 2018www.compropregister.com
What is impressive about the regeneration of the docks area of
Liverpool is the steady stream of new occupiers that are moving in as
well as the steady flow of investment.
This is encapsulated by Aberdeen Standard Investments agreeing five
new leases at the iconic Albert Dock as part of its vision for the complex,
including a diverse mix of independent and national leisure, retail,
restaurant and office tenants.
The policy is to reposition the commercial aspect of the dock by bringing
in new occupiers. Aberdeen also said there is a “re-engagement with the
city and wider region with an eclectic offering of retail, restaurants and
leisure under pinning the long-term vision”.
Aberdeen is also set to embark on a refurbishment programme of the
vacant office space and mezzanine level of the dock in order to attract a
diverse range of occupiers, including start-ups seeking more flexible terms.
Chris Wright of Aberdeen said: “Albert Dock is a world-class tourist
attraction bringing a significant amount of footfall to our tenants but we
are striving to create a year-round destination within the city that locals
visit regularly and feel compelled to return to. We are starting to see strong
demand emerge from exciting, progressive and emerging operators, either
expanding within the North West or from further afield”.
There has been a whole host of new leases signed at Liverpool Waters,
such as the luxury vehicle insurance broker, Novo, which has been based at
Princes Dock for some years.
More significantly the chartered financial planners, Willson Grange,
has relocated to Liverpool Waters from Hoylake and leased 975 sq metres
(10,500 sq ft) at 12 Princes Dock.
Liza Marco of Liverpool Waters said: “Businesses are seeing the
advantage of being located in the city centre and the benefits it brings
in terms of welcoming new clients and employees. As we enter our next
phase of development, we’re looking forward to many more organisations
joining us at Liverpool’s water front”.
Another recent new arrival at Princes Dock is the quantity surveying and
project management business, Walker Sime.
Intense lobbying by regional cities to attract Channel 4 in its relocation
out of London is underpinned by the boost given to Greater
Manchester when the BBC opened in Salford.
The Investor Square organisation expects a significant boost to the
property market if Manchester is chosen, particularly the buy-to-let market.
Ross Kelly, funder of Investor Square, commented: “Manchester is one of
the hot favourites to become host to C4’s newHQwhichwill see at least 300 of
the station’s staff and their families relocating to the chosen city. Manchester
is already experiencing a 7.53% rental price growth as the city booms in
confidence. Channel 4 is going to be extremely tempted by the pool of
talent and facilities already available in Media City”.
Elsewhere, in Cheshire, the hotel business continues to thrive and there is a
special place for large country house premises, such as Rowton Hall & Spa
which has been sold through Christie & Co for £6.25 million.
The 40-bedroom hotel is situated in the core wealthy part of Cheshire
close to the Roman city of Chester and has function and conference facilities
which accommodate a large number of weddings each year.
It has been bought by Anderbury, who own other hotels in the region.
Rowton Hall offers the opportunity to increase the number of bedrooms in
Ryan Lynn of Christie said: “We have achieved a strong result for the
Wigginton family in the sale of the hotel on a very confidential basis”.